Gasoline prices continue to plunge, unpredictable developments: Gas store owners 'cry to heaven' because of a loss of hundreds of millions

As soon as the price of gasoline was announced to drop sharply, many gas stations immediately counted the incoming inventory. "Happy people, sad people" is the psychology of many gas stations.

The owner of a petrol station happily shared: Fortunately, we only have a few hundred liters left, so the price drop is not affected at all.

But not everyone is so lucky. Mr. Pham Van Lam, a representative of a petroleum business, was sad: We still have 45,000 liters of 0.05S diesel oil in stock. The import price is 26,590 VND/liter. After the operating period on July 21, the diesel oil price was only 24,850 VND / liter (down 1,740 VND / liter), so we lost nearly 80 million VND. If including the amount of E5, RON95 gasoline remaining, the calculated loss must be up to 100 million dong.

In fact, forecasting gasoline prices is now no longer difficult. As long as there is enough data, the price increase or decrease after each period is calculated quite close to the price of the inter-Ministry of Industry and Trade - Finance. However, for many reasons, many gas stations are still "sticky" with inventory before each discount period.

The owner of a gas station said: There was a time when some big customers called to tell them to come and get oil to run the engine, because it was a regular customer, so we immediately imported more goods to sell to customers. However, when the goods have just been imported, customers reading the newspaper see that gasoline prices will drop sharply in the next few days. So they immediately stopped taking goods or only took a very small amount to wait for the discount to take it. Thus, the gas stations will be in stock and suffer heavy losses after the price is adjusted down.

With small gas stations, the sales volume is uneven, if not carefully calculated, the import will fall into the situation of importing at high prices and selling at low prices. The reason is that now the price adjustment is every 10 days, instead of 15 days like before, so the price adjustment date may not be sold out yet.

According to predictions of petroleum businesses, domestic gasoline prices may drop to 21,000 VND/liter thanks to a sharp drop in world oil prices.

Along with the plunge in gasoline prices, many other commodities will also be directly affected.

Recording the market in Ho Chi Minh City shows that in recent days, the prices of some weak commodities have shown signs of cooling down, after the price of gasoline dropped deeply. However, in general, commodity prices did not decrease much and a series of items remained stationary and did not decline according to gasoline prices.

Surveyed at some traditional markets, prices of some items such as pork, duck eggs, fish, cooking oil... decreased slightly by 5%-8%. Ms. Nhan, a residential customer in Tan Binh district, commented that the prices of some items such as pork, red tilapia, morning glory... decreased by 3,000-8,000 VND/kg compared to before.

"I just bought 1 kg of bacon at Ba Hoa market for 158,000 VND, down 8,000 VND compared to last week. Red tilapia also decreased to more than 55,000 VND/kg. In general, the average retail price of some items. Vegetables and fruits have decreased but not much," said Ms. Nhan.

Although some food items decreased, they were still anchored at a high level, so the sales force in the market was weak. Ms. Lien, a small trader at Nguyen Van Troi market (District 3), admitted that after the epidemic, people save money, plus prices are still at a high level, so trading is difficult, purchasing power decreases by 20%-30%. .

"Many customers wonder why gasoline has decreased, then why do small merchants refuse to sharply reduce the price of goods, I explain and hope customers understand, but the high price doesn't make much money" - Ms. Lien explained.

At the supermarket channel, Mr. Nguyen Ngo Anh Tuan, director of the dry food industry of Lotte Mart Vietnam, affirmed that when the fuel and oil cools down, for the group of goods that have been discounted, the supermarket continues to ask suppliers to coordinate promotion implementation. As a result, the price of some items such as instant noodles, food, milk... will be reduced by 10%-30%. Fresh food items such as vegetables and fruits... also decreased, up to 33% at most.

Mr. Tuan added that the reduction of transportation costs in line with the price of petrol and the adjustment of product prices from the international market are factors affecting the reduction in commodity prices. When there are bearish signals, the supermarket immediately works with suppliers to adjust prices in time.

Commodity prices are also influenced by other factors such as transportation costs, packaging, supplies, electricity and water costs, etc. These costs have not shown any signs of decreasing, so many types of food and goods. sold on the market so far has not decreased.

However, the four consecutive drops in gasoline prices is a good sign, helping to stop the increase in commodity prices, but it still takes time and a certain delay. In the coming time, when the input factors of other materials cool down, manufacturers and traders will reduce the pressure on commodity prices, reducing the spending pressure on customers.

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